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Laxmi India Finance slides on debut

05-Aug-25 10:23 Hrs IST

The scrip was listed at Rs 136, exhibiting a discount of 13.92% to the issue price.

So far, the stock has hit a high of Rs 146.70 and a low of Rs 136.00. On the BSE, over 3.78 lakh shares of the company were traded in the counter so far.

The initial public offer of Laxmi India Finance was subscribed 1.87 times. The issue opened for bidding on 29 July 2025 and it closed on 31 July 2025. The price band of the IPO is fixed between Rs 150 and 158 per share.

The initial public offer (IPO) consisted of a fresh issue of 1.045 crore equity shares to raise Rs 156.80 crore at the lower band of Rs 150 per share (face value Rs 5 per share) and Rs 165.17 crore at the upper band of Rs 158 per share.

The issue also has an offer for sale (OFS) of 56.39 lakh equity shares from the promoter and promoter group to raise Rs 89.09 crore at the upper price band. The promoter shareholding will decline to 60.5% post-IPO from 89.1% pre-IPO.

The net proceeds from the fresh issue will be used for augmenting the capital base to meet future capital requirements. The issue will bring the benefits of listing the equity shares on the stock exchanges, including enhancing brand image among existing and potential customers and creating a public market for the equity shares in India.

Laxmi India Finance, incorporated in 1996, is a non-deposit-taking NBFC focused on serving underserved customers in rural, semi-urban, and urban areas across five states. Its loan portfolio includes MSME, vehicle, and construction loans, with MSME loans contributing over 76% of its Rs 1,277 crore AUM as of March 2025. The company operates 158 branches and serves over 35,000 customers.

With a capital adequacy ratio of 20.80% and an improved credit rating of 'A- (Positive)' from Acuite, it leverages technology across operations and maintains a strong risk management framework. Promoted by Deepak Baid, Laxmi India has recorded robust growth with a two-year AUM CAGR of 36%.

Ahead of the IPO, Laxmi India Finance, on 28 July 2025, raised Rs 5 crore from anchor investors. The board allotted 3.16 lakh shares at Rs 158 each to 11 anchor investors.

The firm reported a consolidated net profit of Rs 36.01 crore and sales of Rs 245.71 crore for the twelve months ended on 31 March 2025.